What companies benefit most from high crude price?

Discussion in 'Stocks' started by turkeyneck, May 2, 2008.

  1. EOG, & DVN have recently made big finds. DVN was a few years ago. Also, any E&P plays that have some nat gas exposure like DVN and APA will also do well. Take XOM's recent quarter - they got killed on refining and only spent $5 billion on exploration. Once oil goes beyond $150 - firms with large reserves are going to see their shares balloon way beyond anything normally used to value E&P firms because I believe the market will begin to value them as a reserve replacements for the majors and will become an extremely pressing issue.